Mallett Share Discussion Threads

[pj 1] 19/5/2014 08:50

Sorry to see this

No wonder they did not return my communications.

Also looks like a leaky ship to me. Begs other questions

Management need to align themselves with shareholders

[orinocor] 19/5/2014 07:51

Looks like I was right then about new strong york sales being a one-off. I can only see yet another loss this year.
Worth a punt at 45p.

[ammons] 19/5/2014 07:36

Well, pretty underwhelming statement this morning. Trading slower than expected. I will keep watching I think. Not buying any yet. Pinning their hopes on a new web site full of bells and whistles.

[sirhedgealot] 15/5/2014 12:35

Are you short Orinocor?

[orinocor] 15/5/2014 11:09

The operating loss was £400,000 in the most recent half year so looking bad.
Lucky the sales in New York were strong else it would have been much worse. If the strong new york sales are a one off then its only downhill for the shares

[sirhedgealot] 15/5/2014 08:32

Bought in. Looks cheap. I like the business, they deal in these spectacular pieces, very desirable decor for the well heeled. A well established name. Gla chaps.

[fozzie] 14/5/2014 09:32

16/12/2013 at 73.50p

Why do you ask?

[orinocor] 14/5/2014 09:30

Why would the share price go through 100p AFTER the dividend is paid??????????????????

That's the dividend off the table. Nothing to look forward to now except more losses

[orinocor] 14/5/2014 09:27

LOL!!!


Rainmaker
6 May'14 - 01:29 - 6049 of 6051 0 0

Re Mallett Pat, I expect the share price to go through 100p after they have paid the 12.7p dividend

[envirovision] 14/5/2014 09:24

fozzie, when did you last buy Mallet shares ?

[pj 1] 14/5/2014 09:17

Rm, yes possibly. Plus its only a matter of time imo before MAE products and services become in demand again, particularly London. Furnishings will follow property price!
If Sales bloom in Asia I hope they have better cash collection than currently or they can kiss goodbye to 20/ 30% of it.maybe I'm wrong but the Co never responded.

Should have mentioned maybe that I have also sold other holdings where my communications are ignored. VLK one of my main holdings are currently evading answering an extremely simple mind blowingly boring question, they may go as well, esp with the amount the Directors award themselves!

[fozzie] 14/5/2014 09:13

A resolution will be proposed at our AGM on 27(th) May 2014 and, if approved, the dividend will be paid on 13(th) June 2014 to shareholders on the register on 16(th) May 2014.

[envirovision] 14/5/2014 09:08

Back to 60p then ?

[rainmaker] 14/5/2014 09:04

PJ-it just shows you how very inefficient the market is in some small caps. Re the SD, it's already been approved and payment is on 13 June.I believe the Company will return to paying an ordinary dividend again later this year.

regards

[fozzie] 14/5/2014 09:03

Back where i came in now although i will of course recieve the special dividend, which i will reinvest here.

[rainmaker] 14/5/2014 08:56

IMHO, way too cheap at current levels of 70p bid, 74p offered. Bringing the remainder of the fixed asset property sale into the net working capital calculation means that after ignoring the impact of a return to profitable trading, this figure, used as a proxy for a Company's minimum liquidation value, rises to 93p a share for a Company that is forecast to make 7.12p next year and over 9p in 2016 according to the last figures I saw recently on the Share Centre site.IMO this drop is an opportunity to pick up some very cheap stock.

AIMHO, DYOR

regards

[pj 1] 14/5/2014 08:45

For the record Im out for a really impressive +3.2% and the divi.(assuming its passed)

Has failed to break 85p/90p for years, thought the cash injection could be the catalyst but got it wrong.

Also, (bug bear of mine) Co failed to respond to my questions ref debtors, inventory and payment terms.

Maybe I should attend the AGM but was only a small holding anyway.

Interesting Co though, hopefully they can continue pushing into overseas markets for holders

GLA pj

[fozzie] 14/5/2014 08:34

ah yes sorry Eezy i thought it was later in the month and still to be approved (which it is) but skimmed it and missed the May 16th date.

[eezymunny] 14/5/2014 08:30

Gone ex divi fozzie 12.7p

[fozzie] 14/5/2014 08:19

Big fall on no news, and or no volume. Anyone got any thoughts on this mornings 12%+ fall?

[orinocor] 09/5/2014 13:39

What rainmaker does not realise is that the last results include the sale of the property.
There is very little attraction here. Mallet is a serial loss maker and have been for years.

[orinocor] 08/5/2014 07:43

Read what Rainmaker has just posted on his Value thread on Mallet. Its complete rubbish and he does not understand the effects of the dividend.


--------------------------------------------------------------------------


The way I look at Mallett is a cyclical business whose earnings will recover sharply-see estimates(which I believe are on the low side), in part due to substantial cost savings ie the relocation of their London showroom, saving some £600k pa yet at the financial year end they had net working capital(a proxy for a Company's minimum liquidation value)of £12mln or 87p a share.However since then, the Company have finalised the sale of their Clapham High Street Property on 21 February which net of the special dividend will, all other factors being equal, boost net working capital to rougly 93p a share so I earnestly believe the current share, for a profitable business with rising earnings and on low prospective earning multiples, at just 81p/84p is complete nonsense.

[orinocor] 06/5/2014 14:10

Share of operating profit in associate = 32K


where does he get 87K from???

[orinocor] 06/5/2014 13:12

The operating loss was £400,000 in the 2nd half of the year. How is that trading profitably. What a terrible set of results.

[orinocor] 06/5/2014 10:55

He still wont stop on Masterpiece despite being shown up as knowing sweet FA about this sector. Masterpiece makes a tiny profit, its just as likely to be losing money next year.

-------------------------------------------------------------

Even though there is little change to the number of exhibitor stands at 151, look for the contribution from Mallett's 23.75% holding in the Masterpiece exhibition to rise at least 50% from last year's £87k due to a £5 hike in the admission price or perhaps even double if they have another 20% rise in visitor numbers leaving aside the financial contribution from their first ever headline sponsor for the exhibition-"in association with RBC wealth management". Surely Masterpiece must be collecting an annual six figure sum for this.